DOTP market prices remain stable.

1. Daily Summary

① Today, the domestic DOTP market prices remained stable, with improved trading at lower price levels.

② Today’s domestic DOTP capacity utilization rate was 57%, indicating that overall operating rates are at a moderate level.

2. Spot Market Overview

Table 1: Domestic DOTP Price Summary (Unit: CNY/ton)

Based on the Zhejiang region, today’s quoted price for DOTP in the Zhejiang market closed at 10,700 CNY/ton, remaining stable compared to the previous working day and consistent with morning expectations.

Today, the mainstream domestic DOTP market operated steadily. Rising crude oil prices drove an increase in PTA prices, a key raw material for DOTP, while isobutanol prices remained high but stable. Cost-side support boosted market sentiment, prompting buyers to replenish stocks at lower price levels. Consequently, transactions at lower prices improved. However, current high prices have reached year-to-date highs, leading to cautious sentiment among participants; thus, trading at higher prices remains stagnant.

3. Production Dynamics

Today, the domestic DOTP capacity utilization rate stood at 57%, reflecting moderate operating levels. Regarding profits, the price of isobutanol in East China remained stable, while PTA prices increased. With DOTP prices in the Zhejiang market holding steady, the theoretical profit margin for sample enterprises in Zhejiang slightly declined, resulting in a theoretical profit of 294 CNY/ton today.

4. Price Forecast

On the cost side, the core raw material isobutanol prices are currently stable. Another key raw material, PTA, is maintaining firm trends driven by cost pressures. The cost structure continues to provide support for the DOTP market. However, demand-side positives are insufficient, with purchasing primarily driven by rigid end-user needs. Amidst the tug-of-war between costs and demand, DOTP market prices are expected to consolidate at high levels, with limited fluctuations.

5. Raw Material Markets

Today, the center of gravity in the domestic isobutanol market remained stable. Crude propylene prices continued their significant upward trend, increasing cost pressure once again. Supply expectations for isobutanol indicate potential increases. Downstream users are currently maintaining rigid restocking practices. Some traders offered slightly lower prices for actual orders, resulting in mediocre trading activity at higher price points.

6. Data Calendar

Table 2: Domestic DOTP Data Overview (Unit: 10,000 tons, CNY/ton)